Pak, China agree to make 2019 year of economic cooperation


From Business Correspondent

ISLAMABAD: Pakistan and China have agreed to make 2019 a year of Economic Cooperation by promoting joint ventures and exports under China-Pakistan Economic Corridor (CPEC).

The understanding reached during a meeting between Minister for Planning and Development Makhdum Khusro Bakhtyar and Chinese Ambassador to Pakistan Mr. Yao Jing in Islamabad.

During the meeting, matters of mutual interest including progress on CPEC projects came under discussion.

The Minister said an MoU on Industrial Cooperation, signed during 8th Joint Coordination Committee, provides a framework to promote communication on key industries such as textile, petro-chemical and iron & steel that encourages Chinese investors to relocate and explore opportunities of investment in Pakistan.

He highlighted that Pakistan can become an ideal destination for Chinese investment in different sectors. Makhdum Khusro Bakhtyar said that Ministry of Planning would facilitate Chinese investors looking for opportunities under CPEC.

The Minister highlighted that government is working on policies that will improve ease of doing business in early time frame.

Both sides also agreed to work out a mechanism for speedy implementation of initiatives already identified in six areas including agriculture, education, medical treatment, poverty alleviation, water supply and vocational training projects.

The Chinese Ambassador appreciated that 8th JCC meeting was held successfully in a cordial atmosphere where it was decided to take the scope of the cooperation to new avenues.

Ambassador Yao Jing appreciated the efforts of the incumbent Government for facilitating Chinese investors and informed that a large number of Chinese investors would visit Pakistan soon that would further strengthen the bonds of economic and bilateral cooperation.


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